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Is Globalization Ultimately Positive or Negative, or Somewhere in Between?
Pages 4 (1004 words)
Introduction:- Globalization is the interconnection of global macroeconomic and financial linkages, social and cultural bonds and societal integration in general that makes the world a much more connected place. In the modern world, radically enhanced global economically and financially connected world, isolated analysis is not sufficient to draw conclusions(Aruoba, Diebold and Kose)…
While the process has led to enormous advancements and explored unbelievable possibilities, it has also impacted negatively on many nations that seek to develop and prosper in isolation(Friedman). The advent of the internet and other forms of electronic media has made this transformation even more rapid. This paper shall analyze the good and the bad of globalization and analyze the overall impact it has on the life of human beings. The Good:- An interconnected world leads to greater opportunities and the discovery of new ways to improve living standards. Globalization has led to the coming together of the economically advanced and powerful nations with the developing states. This coming together has led to economic, political and cultural exchanges that have increased the speed of development of these less developed countries. Through transformation of technology in the form of infrastructural inputs, investment machinery, economic assistance, social and cultural exchanges and tourism, many countries have been able to break out of the shell of self restriction and catalyze their development(Weinstein). ...
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